The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Palika Towns LLP
Awaiting price reaction for this filing.
Palika Towns LLP, part of the promoter group of Harig Crankshafts Ltd, sold 5,25,000 equity shares (5.00% of total capital) through an Offer for Sale (OFS) between October 1 and October 3, 2025. The purpose is to comply with the Minimum Public Shareholding (MPS) requirement under Rule 19A(5) of the Securities Contracts (Regulation) Rules, 1957. As a result, the promoter group's holding dropped from 95.00% (99,75,000 shares) to 90.00% (94,50,000 shares). The company's total equity share capital remains unchanged at 1.05 crore shares of Rs. 10 each. With the promoter still at 90%, further dilution will be needed to reach the mandatory 25% public shareholding threshold.
This is a compliance-driven stake sale, not a sentiment-driven exit, so it is largely neutral for the stock. However, the Offer for Sale adds supply at market price, which may create short-term price pressure. Since promoter holding is still well above the 25% MPS requirement, investors should expect additional OFS tranches in the future.